MUMBAI (Reuters) – India’s current account deficit (CAD) narrowed in the October-December quarter largely due to higher service exports, the central bank said on Tuesday.
The current account deficit stood at $10.5 billion, or 1.2% of GDP, in the third quarter of fiscal 2023/24 compared with $11.4 billion or 1.3% of GDP in the preceding quarter.
The CAD stood at $16.8 billion or 2% in the same quarter a year ago.
(Reporting by Swati Bhat and Siddhi Nayak; Editing by Eileen Soreng)
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